On CNBC's "Options Action", Dan Nathan spoke about an unusually high options activity in Intel Corporation (NASDAQ: INTC). He said that put volume was 1.5 times that of calls, but a purchase of calls caught his attention during the trading session.

Around 4,000 contracts of the April 50 calls were traded for $1.90. The trade breaks even at $51.90 or 6.26 percent higher. There are going to be two earnings reports until the April expiration so the $50 strike is not very far from the current stock price, said Nathan.